HELD CHECK Meaning and
Definition
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A held check is a financial term referring to a check that has not yet been processed by the bank and is therefore not immediately available for withdrawal or usage by the account holder. When a check is deposited into an individual's bank account, there is typically a certain period of time during which the funds are placed on hold or are not immediately accessible. This period allows the bank to verify the validity of the check and ensure that there are sufficient funds in the issuer's account to cover the amount written on the check.
The hold placed on the deposited check allows the bank to conduct necessary investigations and prevent potential fraud or insufficient funds situations. During this hold period, the account holder is unable to access or withdraw the funds represented by the check. The duration of the hold can vary depending on the policies of the bank, the amount of the check, and the relationship between the depositor and the bank.
Held checks can cause temporary inconvenience for account holders who may need immediate access to the funds. However, these holds are implemented as a protective measure to safeguard against potential losses or fraudulent activities. Once the bank completes its verification process and confirms the legitimacy of the check, the hold is typically lifted, and the funds become available for withdrawal or use by the account holder.
Common Misspellings for HELD CHECK
- geld check
- beld check
- neld check
- jeld check
- ueld check
- yeld check
- hwld check
- hsld check
- hdld check
- hrld check
- h4ld check
- h3ld check
- hekd check
- hepd check
- heod check
- hels check
- helx check
- helc check
- helf check
- helr check
Etymology of HELD CHECK
The etymology of the term "held check" can be traced back to the origin of the words "held" and "check".
1. Held: The word "held" is the past tense and past participle of the verb "hold". It originated from the Old English word "healdan", which means "to keep, grasp, or possess". The Middle English form of this word was "hēlden".
2. Check: The term "check" has a more complicated etymology. It comes from the Old French word "eschequier", which stems from the Late Latin word "scaccus". This Latin term was used to refer to a chessboard, and it was derived from the Persian word "shāh", meaning "king", which also gave rise to the word "chess". Over time, the meaning of "check" shifted to refer to the process of examining or verifying something.
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